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Map Ta Phut, Thailand

Focus Weak PX spreads drag down Thai PTTGC Q2 results: analysts

Focus story by Nurluqman Suratman

SINGAPORE (ICIS)--Thailand’s PTT Global Chemical (PTTGC) is expected to post weaker second-quarter earnings, given declines in aromatics spreads and weaker overall refining margins compared with the first three months of the year, analysts said on Thursday.

The weak refining margins will likely persist for the remainder of the year, they said.

On a year-on-year basis, however, PTTGC’s June-quarter results will be augmented by inventory and foreign exchange gains, as well as oil hedging profits, the analysts said.

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